Confirming that economics relates to almost everything, game theory can explain yesterday’s women’s World Cup semifinal penalty kick save by the U.S. team.…
The Countries That Return Lost Wallets
Looking at honor systems in stores and for lost wallets, we can see how people respond and where to find the most honesty.…
Why Mapping Apps Create the Prisoner’s Dilemma
The success of a decision to use Waze, Google Maps, and other mapping apps to avoid traffic can depend on outsmarting the prisoner’s dilemma.…
How Taylor Swift Uses Temptation Bundling
Because album bundles increase our demand for a star’s recordings, they help to propel a song or album to the #1 Billboard spot.…
Why An Economist Might Like a Restaurant Queue
Because a restaurant queue can help supply and demand, some eating establishments create the signal that it sends to diners.…
A New Way to Look At Air Rage
Boarding JetBlue recently, a gracious gentleman offered to let me move in front of him. Embarrassed, I refused and explained that my boarding group was “D.” And he was a “B.” W…
The Hidden Incentives That Determine Our Big Decisions
Random and seemingly inconsequential incentives can nudge us toward the college majors that will shape our future incomes and lifestyles.…
When Awards Give Us More or Less Than We Expect
While awards are all about recognition, inspiration, and appreciation, sometimes they are not exactly what we expect them to be.…
How an Art Heist Is like the Government Shutdown
Whether looking at an art heist, government shutdown negotiations or a soccer shootout, game theory can explain people’s behavior.…
Two Ways to Keep a New Year’s Resolution
Called temptation bundling and piggybacking, ideas from behavioral economics provide some easy to follow methods for keeping our New Year’s resolutions.…